So if you have $3,000 available to contribute to your TFSA, here are three reliable Canadian stocks for building long-term wealth.
Dollarama shares
Dollarama (TSX:DOL) is a reliable Canadian stock for long-term wealth building. The discount retailer has consistently outperformed the broader market and achieved significant capital gains. Dollarama shares have risen about 30.7% per year over the past five years, resulting in capital gains of about 282%.
Furthermore, Dollarama has demonstrated a commitment to rewarding shareholders. It has increased its dividend fourteen times since 2011. These increases reflect the company’s solid earnings base and resilient operations.
Dollarama’s focus on value prices and a broad product range continues to attract customers across economic cycles. Additionally, the retailer’s expanding store footprint in Canada, coupled with international growth initiatives, supports continued sales growth. Partnerships with third-party delivery platforms also extend Dollarama’s reach, allowing it to serve customers outside of its physical locations.
Additionally, Dollarama’s strong supplier relationships and balanced mix of private label and branded items bode well for earnings growth. This structure helps protect margins while giving the company flexibility in pricing and product selection. The recent acquisition of Australia’s The Reject Shop adds a new growth opportunity for the company and expands its international base.
Overall, Dollarama stock offers growth, income, and stability, making it a perfect TFSA stock for building wealth.
Shopify inventory
Shopify (TSX:SHOP) is a reliable TSX stock for long-term wealth building. Although Shopify stock has risen significantly over the past decade, the growth story is far from over. Even after a strong performance over the past decade, the company can still benefit as the retail industry continues to shift to multi-channel selling. Businesses increasingly need seamless ways to sell online, in stores, and across multiple platforms, and Shopify’s unified commerce ecosystem will enable it to respond to demand.
Shopify continues to attract merchants of all sizes, including major global brands. In addition, continuous product innovation continues to strengthen customer loyalty.
For Shopify, growth is also becoming more diversified. Payments remain a key driver, while offline retail and business-to-business solutions are expanding rapidly, highlighting Shopify’s ability to scale beyond its core offering. Backed by digital adoption, AI integration and a sharper focus on efficiency, Shopify appears well-positioned to drive value and generate attractive long-term returns for investors.
Bird construction
Bird construction (TSX:BDT) is a solid long-term TSX stock to add to your TFSA. The Canadian construction and maintenance company benefits from a growing national footprint and exposure to high-demand areas such as civil infrastructure, industrial operations and defense. These sectors offer resilient, multi-year demand that supports consistent earnings growth.
While macroeconomic headwinds have impacted the broader construction landscape, Bird’s core momentum remains intact. The combined order book of more than $10 billion provides strong revenue visibility and will support future growth. While delayed project starts and weaker industrial activity have weighed on results in the short term, these pressures appear temporary. In addition, Bird’s solid balance sheet enhances its ability to manage uncertainty and pursue strategic acquisitions.
The recent acquisition of Fraser River Pile & Dredge expands Bird’s marine engineering capabilities, diversifies its revenue base and positions the company well to benefit from long-term infrastructure investment trends across Canada.
Overall, Bird Construction’s exposure to resilient end markets, strong backlog and strategic acquisitions position the company well to deliver notable returns over the long term.
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